Ord Minnett has appointed Michael Hughes as head of corporate finance. Hughes will assume the role in June 2010 and will be responsible for Ord Minnett’s corporate finance division, which encompasses all syndicated and originated equity capital market transactions. He will report to the firm’s chief executive, Tim Gunning.
Hughes comes from AMP Capital Investors (AMPCI) where he has been senior portfolio manager of the Small Companies Fund since August 2007. Before that he was senior portfolio manager of AMP’s Capital Value Plus Fund, and he has also held roles at 452 Capital and Westpac Corporate Banking.
Following the announcement of his departure from AMPCI, the Small Companies Fund was assigned a ‘sell’ rating by Standard & Poor’s due to the uncertainty that now surrounds the future of an Australian equity small cap strategy at the firm. The ratings agency added that AMPCI had expressed its intention to focus its research efforts on managing large-cap equities, and that the transition arrangements for the AMP capital Small Companies Fund had yet to be decided.
